AltaGas Canada Inc (TSE:ACI) Declares $0.26 Quarterly Dividend

AltaGas Canada Inc (TSE:ACI) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Shareholders of record on Friday, August 30th will be given a dividend of 0.26 per share on Monday, September 30th. This represents a $1.04 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Thursday, August 29th.

Shares of ACI stock opened at C$25.15 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.57 and a debt-to-equity ratio of 104.23. The firm’s fifty day simple moving average is C$25.81. The company has a market cap of $749.10 million and a PE ratio of 16.99. AltaGas Canada has a 12 month low of C$14.06 and a 12 month high of C$27.60.

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AltaGas Canada (TSE:ACI) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.01). The company had revenue of C$61.30 million for the quarter, compared to the consensus estimate of C$61.65 million. Equities research analysts expect that AltaGas Canada will post 1.5300001 earnings per share for the current year.

A number of analysts have recently commented on the company. TD Securities boosted their price target on AltaGas Canada from C$19.50 to C$25.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Royal Bank of Canada raised their price objective on AltaGas Canada from C$32.00 to C$33.00 in a research report on Wednesday, August 21st. Industrial Alliance Securities raised AltaGas Canada from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$18.00 to C$24.00 in a report on Monday, June 3rd. National Bank Financial raised their price target on AltaGas Canada from C$20.00 to C$25.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. Finally, CIBC lifted their price target on AltaGas Canada from C$23.00 to C$31.00 in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$26.71.

AltaGas Canada Company Profile

AltaGas Canada Inc, a natural gas distribution utility company, provides rate-regulated utility services in northern British Columbia. It operates in Renewable Energy and Utilities segments. The company also holds interest in the Bear Mountain Wind Park, a 102 MW generating wind facility consisting of 34 turbines, a substation, and transmission and collector lines; and the northwest hydro facilities located in Tahltan first nation territory of Vancouver, British Columbia.